Are you thinking about retirement in 2022? How do you start a retirement income stream from super?
Thank you for joining The Strategy Stacker and Financial Planner Luke Smith. Luke joined 2CC Talking Canberra 1206AM on The Money Show which aired on Friday 21 January 2022. This week’s topic: Account based pensions – the structure you might use, if you were looking to turn your superannuation into a retirement income stream.
If you missed the show, catch up with the podcast here.
Key topics covered include:
- Many people confuse the Centrelink Pension eligibility age with the age you can take Pension from your Super.
- You can take a pension from your Super at a younger age.
- What does retirement mean and what is the declaration you need to make?
- How do you start a pension from a super fund?
- How often can you get paid income from your pension?
- Is there a minimum you need to take each year in pension payments?
- How does tax work in the pension phase?
- Can you top up your super before you start a pension?
- If you stop work and start a pension, can you go back to work if you change your mind?
- Estate planning also needs to be considered as a part of your planning.
- Luke shares his top tips to think about before turning super into a pension at retirement.
Listen to the Podcast right now.
Also available on Apple Podcasts and Spotify ‘The Strategy Stacker – Luke Talks Money’
Do you need retirement planning advice in 2022?
Luke as a Financial Planner can help you set up a financial planning strategy to help you achieve your personal financial goals. This includes setting up a retirement plan and seeing if the account based pension is the right structure to help meet your retirement goals.
Make an appointment to confidentially discuss investment, super, retirement and insurance. Call Envision Financial Services on 6260 4749. You can also use our contact us form to make an appointment for a confidential discussion about your situation.
Luke will return to talk about financial planning on 2CC next Friday. You can also catch up with The Strategy Stacker – Luke Talks Money podcast. We look forward to your company again.